The Central Bank of Nigeria (CBN) has entered into an agreement with The Gambia to print its currency – Gambian Dalasi.
This was disclosed by the Gambia’s central bank Governor, Buah Saidy, on Tuesday, during a visit to the CBN Governor, Godwin Emefiele, in Abuja.
Prior to the agreement, the country had been approached by the International Monetary Fund (IMF) to assist in the restructuring of the country’s apex bank.
However, Saidy said that the offer was declined because of his confidence in Nigeria, noting that Nigeria would serve the best interest of The Gambia.
The small West African nation, as with other countries across the globe, was especially hit by the COVID-19 pandemic.
Saidy disclosed that the country’s economic growth slowed from the 6 percent annual growth recorded pre-COVID to the 0.2 percent growth rate post-COVID.
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Speaking on the minting agreement between both countries, Emefiele assured Saidy of Nigeria’s support in devising ways to help restructure The Gambia’s central bank.
Emefiele said, “My colleagues will take you to our Security Printing and Minting Company.
“Our colleagues from Liberia who were there two months ago were fascinated by the facilities we have at the Nigerian Security Printing and Minting.
“Our colleagues will see how they can help you to restructure your Central Bank and also see how we can be of assistance in printing your currency.
“I can assure you that we can be extremely competitive, if only from the standpoints of logistics and freight. The Gambia is only a few hours from here.”
